Monday March 2, 2015 Search
Weather | Athens
11o C
6o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Non-EU citizens can rent out properties

 Owners benefiting from clause on five-year residence permit will have income from rentals taxed in Greece

By Dimitra Manifava

Non-European Union citizens will be able to rent out the properties they acquire in Greece which also entitle them to a five-year permit to stay in Greece, according to a Development Ministry plan which has come about following a demand submitted mostly by Chinese investors in Greek properties the largest national group to have expressed an interest in acquiring such permits.

Crucially, the income those foreign property owners make from renting their assets will be taxed in Greece, according to the plan.

However, the other request that foreign investors had made, for the issue of a Greek passport to investors who receive a five-year residence permit, will not be satisfied, as is the case in Cyprus and Malta.

Law 4146, passed last year, provides for the issue of a five-year Greek residence permit to non-EU nationals who own properties valued at 250,000 euros or more or have signed contracts for a lease of at least a decade for hotels or other types of tourism accommodation valued at the same amount. The permit can be renewed for another five years and also covers family members. Such permits have already been issued to Chinese, US and Canadian nationals, as well as Russians and Ukrainians.

Meanwhile, the Development Ministry is continuing negotiations with the United Arab Emirates, not only on real estate investments but also on the Arabs participation in the share capital of private companies active in the sectors of tourism, energy and construction. A senior ministry official said that at least one deal is set to be announced during an intergovernmental meeting between Greece and the UAE scheduled to take place in April under Deputy Prime Minister and Foreign Minister Evangelos Venizelos.

The UAE and other countries also have a keen interest in the Hellenic Investment Fund, which after being officially introduced by law at the end of 2013 is currently being set up. The governments of the UAE, Qatar and China have submitted technical questions regarding the operation of the fund, which the Development Ministry is expected to respond to by the end of February.

ekathimerini.com , Tuesday February 18, 2014 (22:39)  
Greek debt becoming less sustainable
No progress seen in tax administration
House protection criteria will benefit wealthy borrowers, too
Agenda
Greece to make international protest over Turkey reserving Aegean air space
Greece is protesting Turkey's move to reserve a large chunk of airspace over the Aegean Sea for military maneuvers until the end of the year, a Greek foreign ministry spokesman says. Foreign...
Spanish PM hits back at Greek accusation of anti-Athens axis
Spain's centre-right Prime Minister Mariano Rajoy hit back on Sunday against accusations from Greece's leftist premier that Spain and Portugal had led a conservative conspiracy to topple his...
Inside News
SOCCER
Super League to seek way out of impasse
The Super League governing board is convening again on Monday in a bid to overcome the tensions that keeps building up in Greek soccer despite the suspension of action on the field over the ...
BASKETBALL
Spanoulis leads Olympiakos to win over Malaga
A good second half was enough for Olympiakos to get the better of Unicaja Malaga (77-72) and score its seventh win in eight games at the second group stage of the Euroleague on Friday. Playi...
Inside Sports
COMMENTARY
A unionist agenda
Maybe Greece will not experience a credit event, because it is in no ones interest, as Minister of State for Coordinating Government Operations Alekos Flambouraris recently assured. Maybe...
EDITORIAL
The beguiling limelight
Too much media exposure is never a good thing and there is no shortage of newcomers in politics who are beguiled by the limelight. What usually comes after this thrall of publicity is the in...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greece to make international protest over Turkey reserving Aegean air space
2. Super League to seek way out of impasse
3. Greek debt becoming less sustainable
4. No progress seen in tax administration
5. House protection criteria will benefit wealthy borrowers, too
6. Agenda
more news
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. Greece's lenders skeptical on new bills but focus on funding needs
3. Schaeuble softens tone, says Greece 'needs time'
4. Greece to prioritize IMF repayments but wants talks on ECB-held bonds, says Varoufakis
5. Lenders to be consulted over collective bargaining
6. Spanish PM hits back at Greek accusation of anti-Athens 'axis'
Today
This Week
1. Time for Alexis Tsipras to keep his nerve
2. A fierce battle looms
3. The ignorance of the West about the culture of Islam
4. Spain said to lead push to hold Greece to terms as Podemos grows
5. SYRIZA feeling the pain
6. The unlikely winners of Greece's surrender on euro
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.